High Tide Expands Ontario Footprint with Northern Helm Acquisition

High Tide Inc. has finalized the purchase of Northern Helm, a move that adds four retail cannabis locations in Ontario to the company’s national portfolio. The $7.77 million deal strengthens the Calgary-based retailer’s presence in the Durham Region and eastern Ontario, bringing its total Canadian store count to 228.

Money Talk·July 30, 2026·reads: 1,428

The acquisition includes storefronts in Bowmanville, Kingston, Courtice, and Oshawa. With this expansion, High Tide now operates 103 locations across Ontario. Raj Grover, founder and CEO of High Tide, noted that the move is part of a disciplined strategy to bolster the company's competitive standing and integrate new consumers into its Cabana Club and ELITE ecosystem.

Financial terms of the transaction involved $3.06 million in assumed debt, $1.88 million in cash, and the issuance of 921,486 common shares valued at roughly $2.83 million. The stores being acquired reported annualized revenue of $8.5 million and an adjusted EBITDA of $1.7 million for the three-month period ending March 31, 2026. This valuation reflects a 4.5x multiple of the stores' annualized adjusted EBITDA, subject to final working capital adjustments. The deal has received conditional approval from the TSX Venture Exchange as the company awaits final regulatory clearance.